Enos Printing Corp. uses a job order cost system. The following data summarize t

Question

Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter’s production.

Job Number

Materials

Factory Labor

Prepare entries to record the operations summarized above. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit

Credit

(1)

(To record materials purchases)

(To record factory wages)

(2)

(To record materials put into production)

(To record labor put into production)

(3)

(4)

(5)

(6)

(7)

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1. Materials purchased on account $193,450, and factory wages incurred $93,310. 2. Materials requisitioned and factory labor used by job:

Explanation / Answer

Journal Entries

Raw materials inventory $193,450 to Accounts payable $193,450 Factory labor $100,140 To Factory wages payable $100,140 Work in process inventory 85,140 Manufacturing overhead 7,900 To Factory labor 93,130 Manufacturing overhead $70,800 To Accounts paybale $53,600 To Accumulated depreciation 17,200 Depreciation expense- office building $15,100 To Accumulated depreciation $15,100 Work in process inventory $76,626 To Manufacturing overhead (85140 @90%) $76,626 WIP 255,259 To Finished goods 255,259

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